Pittenger & Anderson Inc. Sells 465 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pittenger & Anderson Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,041 shares of the network equipment provider’s stock after selling 465 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Cisco Systems were worth $10,813,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cisco Systems in the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $32,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC boosted its holdings in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $43,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last ninety days. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 0.2 %

CSCO stock traded down $0.11 on Friday, hitting $47.99. 5,958,028 shares of the company’s stock were exchanged, compared to its average volume of 19,241,570. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm has a 50 day moving average price of $48.95 and a two-hundred day moving average price of $50.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market cap of $194.32 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.33%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Analysts Set New Price Targets

CSCO has been the subject of a number of research analyst reports. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Citigroup began coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday. They set a “neutral” rating and a $53.00 target price for the company. Finally, Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.